The Motley Fool

Record Inflows For Standard Life Plc

Standard Life (LSE: SL) reported a good start to the year, as the group’s assets under administration grew to £232.8bn on £6.5bn in net new funds and a rising market. The influx of new client money helped boost fee-based income 14%, while operating profit increased 6%.

The increased profits were due mainly to a 28% increase in the profits of the UK operations and a 37% increase in profits from Standard Life Investments.

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To celebrate, the Board raised the interim dividend 6.5% to 5.22p which helps support a 4% yield at current prices.

International growth is an important part of the UK’s major life insurers and like peer Legal & General — which earlier this week reported strong fund inflows from foreign investors —  Standard Life Investments demonstrated success in building out its global distribution channels: of the £7.1bn that flowed in during the first half of the year, 51% came from outside the UK.

The first-half success has management optimistic that growth will continue through the end of the year and beyond. With shares up over 50% in the past 12, investors will be happy but the question is can Standard Life’s international efforts — both through Standard Life Investments and operations in Canada and Asia — keep the growth going?

You don’t often classify a £9.2bn market cap life insurer a growth share, but the performance in the past year has been impressive. If you’re interested in growth shares you should read this report on The Motley Fool’s favourite growth share for 2013.

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> Neither Nate nor The Motley Fool own shares of Standard Life.

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